Cross Regions Real Estate paid $1.6 million for North Jacksonville land to develop a medical hub.
Called Duval Station at River City Marketplace, the proposed 132,000 square feet of professional and medical offices and retail space will be developed on about 9 acres.
Led by President and CEO David Ergisi, Cross Regions bought the land July 10 through Coastal Regions Northside LLC from Old No. 1 Partners LLC.
“Our vision is to create a medical hub for the Northside here at Duval Station, with some retail availability,” Ergisi said.
Ergisi said Cross Regions intends to develop the project in two phases. Construction will begin in the fourth quarter on the first phase, a 30,000-square-foot, two-story medical office building that is fully leased.
He said Cross Regions will start construction next year on the second phase to add medical offices and retail services.
A marketing brochure shows that Duval Station at River City Marketplace is less than a mile from the UF Health North campus.
While subject to change, the site plan shows two proposed medical and professional office buildings totaling 61,200 square feet; two retail buildings totaling 26,250 square feet; a 4,500-square-foot restaurant; and two professional offices of 20,000 square feet each.
They total about 132,000 square feet.
The brochure says build-to-suit and ground-lease opportunities are available.
Cross Regions also is developing The Fountains at St. Johns in St. Johns County, a proposed medical and retail center along County Road 210 West.
Cross Regions has offices in Boca Raton, Jacksonville and Istanbul.
By: Karen Brune Mathis